NY Fines Insurer $4M For Inadequate Consumer Disclosures

March 4, 2020 by John Hilton

The New York Department of Financial Services fined Asurion Insurance Services and Asurion Protection Services $4 million for providing inadequate consumer disclosures for insurance offerings.

Asurion was lax on disclosures for mobile phones, tablets, and other wireless communication equipment, and improperly bundled such insurance with other products, DFS said in a news release.

Asurion is a New York-licensed insurance producer that assists wireless communications equipment vendors, by packaging insurance programs and designing brochures and other materials.

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Originally Posted at InsuranceNewsNet on February 26, 2020 by John Hilton.